According to Porto Montenegro, preparatory work on the project of a new multifunctional complex in Porto Montenegro, called Boka place.
“Construction company Bemax Montenegro, which was awarded the initial construction contract, plans to complete this work during the first quarter in order to build an underground garage for retail, hotels and residential buildings by the end of this year,” the company said in a statement.
Construction of a new mixed-use complex in Porto Montenegro, which will be located along the Adriatic highway in Tivat, began on November 15 last year.
The new complex will include 240 hotel and about 60 residential units, with numerous retail and public areas.
“According to the existing plan, the construction of the first phase of the Boka Place complex should be completed in the second quarter of 2023. Completion of the second, that is, the last phase of construction is scheduled for the end of 2023, ”the message says.
The Boka Place project covers an area of about 75 thousand square meters, and the estimated investment value exceeds 100 million euros.
“Designed as a residential area that operates all year round, Boka Place will also have a supermarket of over XNUMX square meters, a three-screen cinema and numerous catering establishments,” said Porto Montenegro.
The retail properties will have over 40 tenants representing a variety of fashion brands and household goods.
Boka Place will also include a mixed business hotel operated by Kerzner International with a state-of-the-art fitness and wellness center, as well as a 20-meter outdoor pool that can be used in both winter and summer.
The current plan calls for more than 220 full-time employees and more than 40 seasonal workers in retail, restaurant, supermarkets and movie theaters, as well as those managing facilities in the Boka Place area.
The new hotel is expected to create up to 100 jobs. Based on the necessary approvals, the government agreed to include Boka Place in Tivat to the list of development projects under the economic citizenship program, which is the basis for the potential growth of interest among real estate buyers from countries such as the USA, Russia, South Africa, Turkey and China, given that the Montenegrin passport is ranked 41st in terms of economic mobility.
Apartment prices start at Boka Place from 190 thousand euros.
